AUDJPY surged above the 102 level as the Australian dollar gained momentum. The intraday trend remains bullish as long as support at 101.40 holds. It hit a high of 102.03 yesterday and is currently trading around 102.01.
Oscillators and moving averages to forecast the trend of AUDJPY
CMP- 102.01
EMA (4-hour chart)
55-EMA- 101.22
200-EMA- 100.22
365-EMA- 99.27. The pair trades above the short and above long-term moving average.
Major Support- 101.40. Any breach below 101.40 will drag the pair down to 100.98/100.35/100/99.70/99/98.25/97.48/97/96/95/94.39.
Major resistance - 102.40. Any break above 102.40 confirms minor bullishness; a jump to 103.10/104/105 is possible.
Indicator (4-hour chart)
CCI (50)- Bullish
Average directional movement Index- Neutral. All indicators confirm a neutral trend. trend.
It is good to buy on dips around 101.40 with SL around 100.95 for TP of 102.40/103.
